The platform-neutral Token Taxonomy Initiative today announced the publication of the Token Taxonomy Framework (TTF) V 1.0, which enables businesses and developers to universally understand and define what a token is in non-technical terms, regardless of how it is implemented.

Token Taxonomy Initiative members include Accenture, Adhara, Banco Santander, Blockchain Research Institute, Clearmatics, ConsenSys, Digital Asset, Envision Blockchain, EY, Hedera Hashgraph, IBM, Intel, ioBuilders, Itau, J.P. Morgan, Komgo, Microsoft, R3, and Web3 Labs, among others. Supported by taxonomy documentation and a set of tools that facilitate token definition workshops that contribute to a shared GitHub repository, the framework enables businesses to develop a clear definition and scope of the token concept, including use cases, taxonomy and terminology, and a specification neutral to the underlying technology – whether or not the token is hosted on a blockchain platform.